Article courtesy of Bloomberg
Cattle futures extended a rally to a record amid shrinking supplies of U.S. beef and increasing demand for the meat as grocers boost purchases before the Christmas holiday.
U.S. commercial beef output in the 10 months through Oct. 31 fell 1.1% from the same period in 2011, says the USDA. The herd as of July 1 shrank to the smallest since at least 1973. Ranchers cu...